so what's going to happen with cryptocurrency Bitcoin altcoins Etc in terms of price prediction over the coming 2 weeks how will the election affect what happens with crypto is this an opportunity to get out before a massive crash or is this maybe The Best Time Ever to buy for a massive Bull Run in the next 12 months I'm going to answer those questions in this video we're first going to touch on bitcoin and then we're going to move to some of the major alt coins so let's just discuss it one by one it's going be
a bit of a longer video but I mean we've got a lot to get through here and if you don't know how to navigate around these crypto markets you're just going to get burnt time and time again so trying and understand where I'm coming from here in terms of technical analysis I prefer to just stick to price action the first most important analysis Point here is like literally what is going on with the price you can also look at things like moving averages coming through and Crossovers and stuff like that but these are all delayed
and they have a massive lag that's why I don't use any of those indicators I use price action first and foremost and all I want to know is from this low here which I mentioned in previous videos did we get an impulsive move of the lows that's all that matters we've now tagged the top and as you know classic technical analysis one of uh the most common patterns is a double top so we have to watch out for that because we've just tagged that now the other thing to note is again basic analysis here we've
got this downtrending Downs sloping trend line here we've broken through we'll be retesting it now and if we fall through that's significant the next thing that's significant is if this most recent pushup if it's impulsive and it's not the end of a move then we have to look at this and ask ourselves well if we break these lows here at 65k what does that mean that means that this whole move could be negated so we have to be careful about that too and then the other thing there's so many things to consider here is off
the lows we have to move impulsively it has to be a five wave overlapping move or with an extension in wave three like that now it's possible still possible for Bitcoin for Bitcoin particularly we've done a one two and this is a diagonal one and two this is possible but even in that scenario usually the wave two would fall very very deep if it's a diagonal it's like a wedge pattern the diagonal Falls very deep so we should still be coming back to 60,000 if that was the case and then we would have a massive
run so regardless my bias massive bias I'm not here to tell you 8 million different scenarios here because what's the point you can watch millions of YouTube videos and you you'll get all sorts of different ideas and stuff like that I'm just telling you what I think is going to happen I have a lot of experience not got a crystal ball or anything but we know what's we know what's happening in terms of narrative we know everyone's extremely bullish right now we know which way max pain is Max pain and max pain right now is
a sudden I we've already had a bit of a sell off but a sudden sharp um seawave or um uh impulsive wave down that's going to catch people up so I think even if uh Bitcoin turns around and becomes more impulsive we might get a bit of a a clear out back to 60,000 and then potentially we can run from there but we can discuss it then like if we get there it all depends again on the structure and what's going on but in my opinion this scenario is seeming more likely now by the way
people are saying if kamla Harris wins or if Trump wins it means this and that ignore all of that noise it's completely meaningless like nobody knows how the market is going to react to anything um if Trump wins it could just be a massive trap where we get this little kick up and everyone thinks all right we're going to go to 200,000 in Bitcoin and suddenly the market rugs you and then you know it's happen so many times I'm sure it's happened to you guys uh when you're trading uh cryptocurrency or even mean coins so
don't fall for that wait for the market reaction you don't have to rush in and do positions right now you can wait to see what happens but for me the structure is looking sketchy at best and we've double to now we didn't break the top we double top what this means is because we didn't really break to an alltime highs we still have more to go we still have more upside I think the market is very good at giving Clues I'll show you an example of that if you look at salana one move I was
talking about a couple of months back was this move off the lows whether it's corrective much like these moves were here now when you get a full three-wave move up and you're about to get another capitulation down usually this part breaks the high of this part so the three-wave move it can't be like that it has to be like that the final c-wave kicks above the a we saw that here we saw a breakthrough and what did I mention in it's been a while since the market updates but when we looking at salana what did
I mention it we had this first kick here which could have been an a-wave we came back down but then we never broke this top which meant there was a very good possibility of more upside we had to have a larger correction that's what I think may have completed so three waves up here down possibly another three waves up here fact I didn't even check the FIB relationships here but sometimes is a good idea to do that click on Trend based FIB extension and this is on SL again scroll over 1.23 6 near about 1
to the 1.2 36 this number here is one of the most common a equal C relationships in a corrective way so so I mean what are you talking about s what does this mean well if it's corrective which is what it looks like it needs to break down it means this whole move was corrective now very very rarely you can get ongoing Corrections uh rallying up even higher it's still possible we could even break the salana high here at 210 and still be all corrective so I obviously I watch out for that but I know
for sure that is corrective which means at some point unfortunately I have a strong feeling again it's not it's not guaranteed by any means but I have a feeling we could still capitulate and run the lows here before we reverse up the thing is whenever you get massive runs in crypto it's not abnormal to have capitulations just before so let's go back a bit in time and have a look before salana went on its Monster Run what happened just before capitulation what happened just before it is had it run in June pulation what happened just
before it's run in September the same massive massive draw Downs before we get some uh big nice move we don't just slowly kind of go up in a a straight line you know straight zigzaggy line like that and everybody's all happy and joyful it don't work that way in cryptocurrency you'll be used to that by now we get capitulations and then we might run and a lot of the altcoins what why I'm even more biased like you know you'll have a bias one way when you're a Trader it's normal you have to half like otherwise
how can you take a position I'm more biased to the downside why cuz nearly all the altcoins look absolute rubbish like they all look like they've just been going like that sideways for the last 2 3 months which means nearly 99% of the time is corrective movement that needs to clear the lows so I have a firm opinion on that but again I'm open-minded very very rarely this where I showed you the 1.2 36 it could be part of a larger diagonal you know something like this that's slowly forming but but even then we're going
to get a bit of a capitulation maybe start of January and then we run regardless we're going to get a uh move down in my opinion a significant move and that's going to be your amazing buying opportunity I don't think it's now so I've enjoyed a little bit of this runup in you know some of the better alt coins like sui and fet and stuff like that but that's all it's been it's just been a little minor bounce I won get over excited about this and let me just show you so it's clear on some
of these other altcoins because you're like oh salana actually looks okay but again even if you new to technical analysis it's very very hard like this is avac here extremely hard to make anything here look bullish of these lows of 17 and we're now we're struggling here at 22 managed to just about break 30 none of this looks bullish at all this again looks like uh connections of corrective moves and then a v sharp impulse down bit of a three-wave up sharp impulses down so all of the down you know what which way is the
trend down in my opinion again just naked eye based on price action no fancy indicators no fancy anything else cuz you don't need it you can you can just look at literally look at the chart even this up sloping trend line which is almost like a head and shoulders and neckline broken and retested here that doesn't look good to me that looks like I you know wants to break the lows here maybe reset maybe do something avax isn't one of my picks anyway I don't think even when this turns it's going to have some incredible
run it's going to be one of the weaker ones the stronger ones regardless of what I'm saying here when you do take positions whether it's now or you know if you think what I'm saying will happens does actually materialize you have to look at the stronger ones sui like if this is indeed an impulsive move having a correction it's just a deep correction usually at the beginning of every move you usually get like a 786 or very deep correction this could drop down to 171 but if it holds there whilst everything else is capitulating and
starts moving brilliant buying opportunity this will be a one and a two the beginning of something the reason the second wave gets so deep the moves get so deep to the downside is because um you assume that the downtrend is still in place that's why the first move is sharp but later on in a run later on so this is the run it had uh way back in September going into uh the well yeah September here just gone now later on in the move the pullbacks they get more shallow but at the beginning of the
move that's when you get some very very deep ones so I mean even even this one wasn't particularly deep but you see my point here impulse deeper move and then as we go up the moves get shallower and shallower so this is why this is this is why I think in sui we're doing this you see this one two we're doing it on a larg scale one two so I think that's what's going on so even if that's not the low here if you've completed a full five then you run the fibs from here so
if if that low doesn't hold which is fine 382 is very very shallow it's very very likely we'll get to something a little bit deeper like a 618 1.20 so these These are the key levels here in some of these stronger coins you have to watch I personally don't think they'll hold I I'll think we break through and we get down here but the stronger coins they won't break the lows they will stay a little bit higher up in my opinion the other one which I thought was going to be okay but I don't think
so anymore it's F it's just the chart already looks sketchy from here I wondered if this was a 1 2 3 4 and we're trying to make a extended five still technically possible but it's looking more and more sketchy so I I think with fat regardless we're going to get quite low whether we break the lows or notot I'm I'm not 100% sure but to be honest it doesn't matter because anywhere here that's your a buy Zone in my opinion I won't touch any altcoins right now until they capitulate and when they capitulate I think
you'll get some good opportunities there Tower is the other strongish one and how if you zoom out here let me just remove all the drawings again possibly possibly what we've done is three four possibly we've done a five um it's not even 100% clear but possibly and if we have we have some correction to go but again you're looking at these FIB levels 786 682 trying to find some support in this area and then if we Bounce from here we're good if not yeah we're going to take out the lows and reset somewhere lower unfortunately
don't care what's going on in election doesn't doesn't matter it's all about the market reaction and the market clearly and remember you know the stock markets it's all at alltime highs and stuff like that everything's way overdue a healthy correction unfortunately alts never really got a run but that's just life they're still going to get a correction everything gets a correction some some stuff gets run um everything gets a correction seci looking horrible as well again this was one of the stronger ones all of the others on this list there's literally no point even opening
them because they're all horrendous um I'll show you one just for jokes something like a um yeah that is nothing that's nothing at all impulsive about that and it's barely holding on now to this level 32 of support so this will capitulate and you might you might be wondering well why doesn't it just go down like really fast it's just because is been destroyed that much already like zoom out to a weekly or something look at the chart like how much lower can it go you know we're heading way way quickly to zero here uh
so from March we 80 down to 30 but then if you zoom out even more where did we start from we started from 3 something all the way back in August 2021 now people still think it's crazy like I go on X you can follow me on there it's at sag flips I'll link it below people on on X like yeah well you know all of this is ACC some sort of crazy accumulation what the hell like when something especially an altcoin is down 97 98% it's not accumulation it's dead like nobody cares about it
there's no interest no narrative nobody uses the blockchain there's not any new attention on it at all nobody's traded in meme coins on it nobody cares this is just random mindless bag holding in my opinion and most altcoins are like this try not to do that and if you have been doing that last 6 months or 12 months uh we' been going on about it for a while um don't ignore me like actually just look at the chart has have these altcoin bags that you've been holding that have been doing nothing are they suddenly doing
anything no eth been rabbiting on about this for a while as well that is a horrendously badl looking chart that looks like even to the untrained eye that looks like it's desperate to capitulate um maybe reset somewhere and think about things and then maybe do something but it's it's a horrible chart if you go into hourly here we Zoom right in again notice I'm just chatting about price action I'm not showing any news or anything like that there's no need like where's the low here the low here was Sunday 4th of August let's go to
a two-hourly here what kind of a chart is that like go look at eats run back in 20120 2021 were you seeing this rubbish here this is just flagging sideways waiting to capitulate you weren't seeing that there's nothing impulsive here ever like you can't even if you said this was a one two this can't this then be a one two one two it's not it's this has to break this low has to break in my opinion uh when you know Corrections go on clearly you've seen go on for a while sometimes you get a little
fake out upwards where it just breaks the highs and then capitulates that can still happen that's the problem with trading chop it's not easy to do that's why I don't waste my time too much in it just take good opportunities and in the last couple of days it was just very good opportunity to short the market so I did because it's just obvious obvious opportunity again with election volatility you have to be careful don't be careful trading on Leverage if you don't have experience because you can get Cho up you can get fake outs up
before it goes down just be careful about that but again uh I was going to show you this as a comparison let's scroll all the way back just for those of you new to technical analysis he's just learning right now go all the way back to where are we now we are in good times 2020 look at these impulsive moves nice clean green candles all the way up shop Corrections back to business we start moving up impulsive moves up and we're here about 400 impulse impulse small correction massive impulse and then you get a few
heavier Corrections on the way but you see these nice impulsive moves up these things are what moves markets not this sideways choppy nothing price action which is not going to go anywhere unfortunately that's basic technical analysis if you really want to take this to another level and learn about it more first link in description that's my comprehensive program and it's just basically all on ta it focuses on alt coins and all cryptocurrency and if you can understand ta it stops you getting trapped in these uh these situations uh whether you're trading anything mem coins alt
coins doesn't matter so what do I think lots of volatility don't care who wins if it's Trump for example you might get a minor pump where everybody thinks that automatically means crypto is going to go to alltime highs and that's just a trap trap because the charts are showing us that probably not do a rally we probably do a little capitulation before any kind of rally now hopefully hopefully what happens is again just look at seasonal patterns what what happens with cryptocurrency around the holiday period uh in December between Christmas and New Year's what happens
quietly people start accumulating you start seeing a lot of breakouts crazy breakouts while everybody's forgotten about crypto and given up on crypto literally happened last 2 three years well two years so end of 2022 happened and in 2023 it happened to a less extent and it was crazy runs crazy runs fat and all of these other ones just started taking off quietly salana taken off why can't that happen again why can't that happen again so little bit of mess about volatility maybe some dumping everybody gives up on crypto this is just a scenario I'm not
going to give you a 100 different scenarios there's no point I'm just going to tell you what I think could happen and one that you really should watch out for now if this does happen then during the holidays when everybody else is relaxing you should be here trading because that is a great opportunity to buy lows major meme coins only a handful of the best alt coins ignore everything else leave everything else or everything everything like small caps everything just leave it even the smallest all coins they usually even if they do run when one
Sal has done all of its running they run later they run later look at previous Cycles they don't re usually run that much at the beginning anyway don't over complicate it I've made that mistake before like trying to follow a 100 different coins trade 100 different coins don't do it don't do it I either do some short-term trading like I do on Meme coins like literally just trading new launches and have a a basket of larger cut meme coins and a few old coins like sui and stuff like that ignore everything else not worth it
or something new and popular comes comes in which I don't think is going to do this cycle is very very different most people have realized that literally nearly all of the altcoins are just massive ponies that have no utility more and more people are realizing that what do you think happens when more people realize they just sell out of their bag sell out of their positions and they just go chasing the hot new thing which is where the attention is narrative is and that's where you get the pumps end of story thanks for listening
